The Anti-Money Laundering Control Manager is responsible for:
- Assisting and supporting the IDC, including relevant subsidiaries in complying with all local and international AML/CTF and Sanctions legislation (e.g. FATF recommendations 40+9, POCA, PRECCA, FICA, POCDATARA Sanctions laws) applicable to the IDC.
- Facilitating the implementation, creating the required AML/CTF and Sanctions awareness; and
- Performing compliance reviews and assisting other assurance providers with their audits; remediating all issues of non-compliance and reporting to various Committees and statutory bodies
Qualifications :
- LLB, BCom, or equivalent qualification.
- A certificate in Anti-Money Laundering Control.
- Accredited or certified member of the Compliance Institute of South Africa (CISA).
- CAMS Certification will be an added advantage.
- A certificate in compliance management will be an added advantage
Knowledge and Skills:
- At-least 8-10 years’ experience in the anti-money laundering control/ counter terror financing and sanctions environment.
- At least 5 years in management and leadership role.
- Sound experience in report writing and presentation.
- Knowledge of Siron system will be an added advantage.
COMPLIANCE RISK IDENTIFICATION AND ASSESSMENT
- To assist the IDC identify and comply with all applicable AML/CTF and Sanctions legislative requirements (e.g. FATF recommendations 40+9, POCA, PRECCA, FICA, POCDATARA, Sanctions Laws).
- To provide AML/CTF Sanctions compliance advice to the SBUs/Dept.’s (including subsidiaries) on the requirements stipulated within the AML/CTF Sanctions legislation.
- To proactively identify potential breaches on AML/CTF Sanctions, investigate compliance issues and/or irregularities and remediate.
- To compile and continuously update, manage and execute an IDC AML/CTF and Sanctions Compliance Coverage Plan, detailing the compliance risk identification, assessment, management, monitoring and reporting activities to be undertaken for the financial year.
- Prepare for presentation and approval by the Executive Management Committee (including the Board) of the AML annual compliance programme
COMPLIANCE RISK MANAGEMENT
To assist the IDC by performing
- AMLC (KYC/VYC) background/Sanctions listing searches, media searches, google searches, identification of DPEPs and FPEPs on FICA files of potential/new and existing clients including all other ancillary AML/CTF on-boarding and on-going customer due diligence (Pre and post investment) including all other related activities.
- Technical trend monitoring and investigating suspicious financial activity across the Corporation
- Data profiling and quality assessment sorting
- System fine-tuning and optimization and predictive ML/TF risk analytics
- Advanced customer segmentation and logic performance testing
- Drive the initiating and review of applicable systems and procedures to ensure that ML/TF data analytics and surveillance takes place at the correct points and in the right way in the value chain
COMPLIANCE RISK MONITORING
- To compile and regularly review AML/CTF and Sanctions Compliance Risk Management Plans (CRMP) for the applicable AMLC regulatory requirements per SBU/Dept.
- To plan, manage, conduct and/or facilitate AML/CTF and Sanctions compliance monitoring/audits (desktop/ on-site) (i.e. control adequacy reviews, control effectiveness reviews, control self-assessment questionnaires/sign-offs and/or control spot check/ inspections) on the applicable AML/CTF and Sanctions regulatory requirements.
COMPLIANCE RISK REPORTING
- To compile and submit AML/CTF Sanctions Compliance Risk Profile Reports to relevant SBUs/Depts.
- To compile and submit quarterly, bi-annual and annual AML/CTF Sanctions Compliance reports, detailing the status of the Management of the compliance risks within the IDC.
- To report to management on the status of AML Sanctions compliance within business, record non-compliance issues, generate business unit compliance reports, follow up on outstanding actions.
- To log all AML/CTF Sanctions compliance findings on the Compliance Issues Log, manage and track progress made by the SBUs/Depts. in closing the findings and ensure that the Compliance Issues Log accurately reflects all amendments, supporting the integrity of the data reported on to the relevant governance committees.
- To ensure that all relevant reports in terms of FICA (or any other AML/CTF and Sanctions legislation) are submitted to the FIC and/or any other statutory body or law enforcement agencies.
COMPLIANCE AWARENESS AND TRAINING
- To communicate effectively, provide support and create awareness on AML/CTF and Sanctions legislation with Management and recommend improvements to minimise risk and recommend best practices.
- To train staff on AML/CTF and Sanctions legislation (e.g. FATF recommendations 40+9, POCA, PRECCA, FICA, POCDATARA Sanctions laws) with the aim of establishing/ enhancing a culture of compliance within the IDC.
- To conduct on-going practical AML/CTF and Sanctions and Online AML/CTF and Sanctions training on all impacted SBU/Dept., including AML/CTF and Sanctions Compliance Alerts to communicate new AML/CTF and Sanctions new regulatory requirements.
- To stay abreast of amended and/or new AML/CTF and Sanctions regulatory requirements, and pro-actively identify and communicate the impact of the anticipated AMLC regulatory change on the IDC and its Business Units/Depts.
To attend industry forums, seminars and working groups.
ESSENTIAL JOB COMPETENCIES
• Attention to detail.
• Analytical and interpretation.
• Planning and organizing.
• Presenting and communication.
• Influencing and stakeholder management.
• Ethical and integrity.
• Project management.
• Interpersonal skills
• Sound knowledge of MS Office i.e. Word, Excel and PowerPoint
